AvidXchange Closes $300 Million

Fintech company AvidXchange announced it has secured $300 million in financing. Four investors contributed to the round: MasterCard, Temasek Holdings, Investor, and CDC – Caisse des Depots.

AvidXchange, Inc., provides accounts payable and on-demand invoice management solutions. It offers AvidInvoice, a Web-based paperless accounts payable solution for real estate companies in office, retail, multi-family, and industrial sectors. AvidXchange, Inc., was incorporated as AvidXchange.com, Inc., in 2000 and changed to its present name in July, 2002. The company is headquartered in Charlotte, North Carolina.

According to the company, the new funding will empower AvidXchange to continue to scale its operations as the company maintains its focus on delivering a superior customer experience.